Brief by Shorts91NewsDesk / 03:00am on 27 Mar 2025,Thursday Business
U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, effective April 3, 2025, escalating the global trade war. This decision, stemming from a 2019 national security investigation, aims to revive U.S. manufacturing but is expected to increase vehicle prices and slow production. Critics, including European and Canadian leaders, condemned the move, citing negative impacts on businesses and consumers. The United Auto Workers union supported the tariffs as a step toward restoring American jobs. Automaker stocks fell sharply following the announcement, indicating broader market concerns. (PC: Reuters)
